By Chris Becker
All the action overnight was in bond markets as US stocks vacillated over the potential US government shutdown. Treasury yields hit 2.6% – the so-called Uncle Point – with European sovereigns also advancing. European stocks did better overnight, except the FTSE as the USD retreated back from its very weak earlier advance.
Recapping action in Asia yesterday where in mainland China the Shanghai Composite has continued its advance above resistance at 3400 points, now up 0.8% to 3474 points on the back of the better than expected GDP print. As expected, getting past the 3400 level as put the bearish notions behind with pretty much daylight ahead:
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